Funding Fuels Team and Product Scale to Accelerate Leasing Outcomes and Improve Performance
Knock, the leading CRM and performance management platform for multifamily property management companies, announced today that it has raised $20 million in growth funding. The round was led by Fifth Wall, the largest venture capital firm focused on technology-driven innovation for the global real estate industry, and includes participation from existing investors Madrona Venture Group, Lead Edge Capital, Second Avenue Partners and Seven Peaks Ventures. Vik Chawla, partner, Fifth Wall will join Knockâ€™s Board of Directors. This brings the companyâ€™s total capital raised to $47 million.
Knock will use the investment to continue expanding its team and product portfolio, including centralized sales and leasing management, virtual and self-guided touring, AI communications, fraud prevention, applicant screening and leasing, and intelligent forecasting.
â€œThe macroeconomic environment is driving institutional capital into multifamily real estate at an accelerated pace,â€ said Vik Chawla, partner on the Real Estate Technology Investment Team at Fifth Wall. â€œWith asset prices increasing in response, operators need to improve yield and maximize operational efficiencies. As the preeminent CRM solution for multifamily real estate, Knock helps owners and management companies do both. Its platform optimizes the entire tenant relationship â€” from marketing to retention â€” and serves as a workforce management solution for training and tracking productivity. As operators face escalating challenges, we believe Knock is positioned as the ideal partner to help their businesses thrive.â€
Knock is trusted by hundreds of the leading property owners and operators and over half of NMHCâ€™s Top 50 Managers, including Starwood Capital Group, ZRS, FPI and Cushman & Wakefield (formerly Pinnacle), serving multifamily real estateâ€™s $3.3 trillion asset class.
On average, operators experience a 20% increase in lead-to-lease rates when switching to Knock from bundled products that donâ€™t focus on